Pig Market Update 15th December
There was no change in Irish pig price this week. Farmers are receiving quotes ranging from €2.06c/kg up to €2.16/kg from processing plants. Teagasc Pig Development department calculations demonstrate that the average size family farm continues to operate in negative margins losing circa -€9 for every pig sold. This is the 16th consecutive month of losses continuing to surmount pressure on family farms.
Irish pig farmers who applied for PEPS2 are reminded to submit their Breeding Reduction Declaration 31st of December 2022 in respect of your nominated herd. This should be emailed to PEPS2@agriculture.gov.ie
Teagasc held their outlook conference earlier this week. Feed costs for 2022 were 156c/kg dwt, the highest on record. The invasion of Ukraine by Russia escalated the price of feed and energy to unknown territory which is unlikely to change in 2023. Teagasc forecast that margins for Irish pig farmers will improve in 2023 because of 2 main factors; Chinese pigmeat demand and EU pigmeat supply.
The average EU price for grade E carcass is €2.03/kg for week 48.